AskPatty Certified Female Friendly Logo
I was thinking about refinancing my high interest car loan on my used car. But I have heard that all used car loans are high. Would I get a lower interest rate on a new car than if I were just refinance the used one that I have? the apr I have now is an insane 14.75%

Answers from the Automotive Experts

Shelly LoCascio, Dealer Principal  at Irwin Lincoln Mercury Mazda The interest rates on new cars are usually lower than used cars. Manufacturers also do APR promos from time to time. You can check the ads in your local newspaper or the internet to see if there are any rates being advertised. Shelly

Jessie L Thatcher, F&I and Sales Specialist at Reynolds and Reynolds Company  (Retired) Your rate is based on your personal credit score. If it is over 700 you should be able to finance at a lower rate as long as your car is relatively new and does not have a lot of miles on it. You should check with your personal bank and/or Credit Union to get their rates. You may be able to do much better on an independent lender rather than the dealer arranged loan. Also be certain you know exactly what your payoff to your current lender will be if you pay off their loan for another and inquire about early termination fees, etc.

Contribute to this question:


blog comments powered by Disqus

Related Buick Rendezvous FAQs


  • While I'm driving my Buick Rendezvous it tends to boggel down like I'm losing power. Read More
  • how many miles would you normally get on a set of tires Read More
  • What is the length of warranty on a used 2007 Buick Rendezvous with 15,000 miles on it? Read More
  • What size tires and what kind do i need for a 2003 Buick Rendezvous CX? Read More
  • Hi, I have to get new tires for my Buick Rendezvous (2003). I live in Washington, ... Read More
  • Own 2003 Buick Rendezvous with original tires & 24,000 miles. Expert advice varies as to ... Read More
  • I drive 10,000 miles a year. Is it better to buy or lease? Read More

Need Car Advice?

Ask The Experts!

Find Cars For Sale


Help Our Charities